Efficiency and Its Influencing Factors Analysis of E-commerce based on DEA and Tobit Model
by: Hongmei Shan, Xueyuan Xiao, Jing Shi
The study analyzes the efficiency of electronic commerce and discusses the influence factors that affect the efficiency of electronic commerce, further puts forward some suggestions to improve the efficiency. The paper uses DEA model to evaluate the technical efficiency, scale efficiency and pure technical efficiency of 60 e-commerce enterprises listed in China in 2013-2016. Furthermore, the influencing factors of the efficiency of e-commerce are analyzed by using panel data based on Tobit regression model. The results of DEA model show that the e-commerce efficiency is lower and the resource allocation of e-commerce is not optimal. The trend of efficiency value is shaped “S”, there are two obvious inflection points in trend lines. Moreover, the efficiency of Business to Business (B2B) is almost completely close to the average of e-commerce industry in China. The efficiency of Business to Customer (B2C) and cross border e-commerce (CBEC) are relatively higher than the average of e-commerce industry, but Online to Offline (O2O) is lower than the average. The results of Tobit regression model show that the firm size, asset turnover, shareholding ratio of maximum shareholder, industry scale and the market concentration ratio have a statistically positive relation with e-commerce efficiency. Besides, different influencing factors have different impact on different type of e-commerce. This paper indicates the direction for government to focus on the development of Business to Customer and cross-border e-commerce enterprise attribute to their efficiency is higher than the industry average. On the other hand, we provide suggestions for the managers of e-commerce enterprise to improve efficiency. Such as expending firm scale by purchasing and merger, improving service quantity to increase sales and increasing corporate governance efficiency and performance by improving the shareholding proportion of the largest shareholder.